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Barchart
Barchart
Rich Asplund

Cocoa Prices Rally But Remain Below Record Highs

May ICE NY cocoa (CCK24) this morning is up +304 (+3.07%), and May ICE London cocoa #7 (CAK24) is up +36 (+0.44%).

Cocoa prices this morning are stronger, with NY cocoa sharply higher as prices consolidate just below their recent all-time highs.  Gains in London cocoa are limited after the British pound (^GBPUSD) today rallied to a 2-1/2 week high.  Strength in the pound is undercutting cocoa that is priced in terms of sterling.  

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